Airlines Lurch as Hawaiian Cuts Outlook, Illness on Emirates Jet
(Bloomberg) -- U.S. airlines stocks declined in the midst of an industry conference taking place in Boston, and as 100 passengers fell ill on an Emirates flight from Dubai to JFK International in New York.
Several carriers updated their outlooks before or during the Cowen Global Transportation Conference, with Hawaiian Airlines the most notable. The island carrier lowered its third-quarter unit revenue view, citing service disruptions, passenger cancellations and booking interruptions as a result of Hurricane Lane.
The nine-member S&P Supercomposite Airlines Index fell 1.5 percent Wednesday, with Hawaiian Holdings slightly outpacing the decline to sink 1.7 percent. The slide comes after a 6.4 percent rally in August, which followed a tumultuous few months for the airlines, when soaring jet fuel prices squeezed already-thin profit margins in an environment suffering from lackluster demand.
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